Odile is one of the members of the group La Ruche (2). She is a leader in her group along with nine other micro-entrepreneurs from Brazzaville, Congo. Odile has two children of her own and also helps to take care of two nieces and one nephew. Odile manages a small stand where she sells fruit and vegetables. This is her first loan with HOPE Congo and will use the loan to purchase beans, tomatoes, eggplant, and other fruits and vegetables. In her business, she faces daily challenges with her activities and supplies being seasonal and the physical distance between her and her suppliers. To overcome some of these challenges, Odile relies on the quality of her products that she sells and sometimes sells to certain clients on credit if they are good customers. One day Odile hopes that she can transition to a wholesaler of produce and to invest in the future of her children by helping them to find employment.
More information about this loan
About HOPE Congo S.A.: HOPE Congo S.A. is a start-up microfinance institution located in Brazzaville, Republic of the Congo. As of 2009, the Republic of the Congo was the 136th-ranked country in the United Nations Development Programme’s Human Development Index. The average life expectancy is in the low 50s and food insecurity poses a constant threat to ordinary people’s well-being. Through the creation of community banks, HOPE Congo provides credit, savings, and training for entrepreneurs in Brazzaville. With their services, they aim to nourish a culture of saving and an independent community of responsible and self-sustaining entrepreneurs.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.